Amazon’s Web Services provider will invest US$8.2 billion in the Indian state of Maharashtra by 2030, as the company seeks to boost its cloud infrastructure in the Asia-Pacific.
The company aims to expand its cloud computing capacity in the state, which includes Mumbai. This investment will contribute US$15.3 billion to India’s gross domestic product, Amazon said.
“The team of Amazon Web Services explained their entire plan of investing about US$8.2 billion in Maharashtra in the coming few years,” said India’s Minister of Electronics and Information Technology Ashwini Vaishnaw. “They are very optimistic about growth in India.”
“Along with the investment, there will be significant growth in employment also. Amazon Web Services shared that they will be adding a significant number of jobs in India in the coming years,” said Vaishnaw. Amazon estimated it would add more than 81,300 full-time jobs annually by 2030.
The company first signed a memorandum of understanding with the government of Maharashtra in January.
Amazon previously provided more than US$3.7 billion for the state’s cloud infrastructure between 2016 and 2022. Under a new plan announced in 2023, it now aims to invest a total of $12.7 billion into India’s cloud infrastructure by 2030.
It also said last month that it would offer US$1.2 million to preserve mangrove forests around Mumbai, as part of a $15 million investment in ecological projects in the Asia-Pacific.
The company's Web Services division is seeking to expand its presence in the Asia-Pacific, having opening a new hub for the region in Singapore in February.
Amazon’s (NASDAQ: AMZN) share price closed at US$205.02, down from a previous close at $212.28. Its market capitalisation is $2.17 trillion.
